Resale unit at Regency Park reaps $1.65 mil profit

/ EdgeProp Singapore
July 26, 2019 10:00 AM SGT
The seller of a unit at Pinewood Gardens made the top gain of $1.68 million over the week of July 9 to 16. The 1,959 sq ft unit on the second floor was bought for $1.6 million ($817 psf) in October 2006, and sold for $3.28 million ($1,674 psf) on July 15. The seller made a 105% profit, or an annualised profit of 6% over nearly 13 years.
Located at Balmoral Park in prime District 10, the freehold Pinewood Gardens was developed by City Developments Ltd. Completed in 1990, it comprises 149 units, ranging from 1,227 sq ft, two-bedders, to 2,099 sq ft, four-bedroom units. The Singapore Botanic Gardens is a short six-minute drive away. The development is also near reputable schools. Anglo-Chinese School (Primary) is a six-minute drive away, while Raffles Girls’ School (Secondary) is a seven-minute walk away.
The second top gain made over the week – a 59% profit of $1.65 million – was at Regency Park, located on Nathan Road in prime District 10. The 2,250 sq ft unit on the fourth floor was purchased for $2.78 million ($1,236 psf) in November 2006 and sold for $4.425 million ($1,967 psf) on July 12. This means that the seller made an annualised profit of 4% over nearly 13 years.
The second top gain of the week was made by a 2,250 sq ft unit at Regency Park (Credit: EdgeProp Singapore)
For price trends, recent transactions, other project info, check out these projects' details page: Pinewood Gardens, Regency Park, Dakota Residences, 8 Bassein
Regency Park is a 292-unit freehold condo completed in 1987. It is a three-minute drive from Tanglin Mall, and a six-minute drive from Great World City.
At Dakota Residences, the seller of a penthouse unit made the third most profitable transaction of $1.58 million over the week. The 2,605 sq ft, four-bedroom unit on the 19th floor was bought for $2.62 million ($1,005 psf) in July 2008 when it was newly launched, and sold for $4.2 million ($1,612 psf) on July 12. The seller made a 60% profit, or an annualised profit of 4% over 11 years.
Located in District 14, along Dakota Crescent, the 99-year leasehold Dakota Residences was developed by Ho Bee Land. Completed in 2010, it comprises 348 units, ranging from 1,023 sq ft two-bedroom units, to 3,714 sq ft penthouse apartments.
Residents at Dakota Residences, which faces the Geylang River, can also get a view of the landed homes in the prime Goodman Road neighbourhood in District 15, which is right across the river. The development is also a short four-minute walk from Dakota MRT Station on the Circle Line.
The 2,605 sq ft penthouse unit at Dakota Residences was sold for $4.2 million on July 12, marking the third biggest gain of the week (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 2,390 sq ft unit at 8 Bassein, on Bassein Road in prime District 11. The seller sold the property for $2.55 million ($1,067 psf) on July 12, and sustained a 13% loss of $388,000. The unit was purchased in May 2012 for $2.938 million ($1,229 psf). Over a holding period of seven years, this translates into an annualised loss of 2%.
8 Bassein is a freehold condo, and was completed in 2015.
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